Beter Bed Holding: Q4 sales increased by 2.2%; restructuring on track
18 January 2019
As announced at the Capital Markets Day on 26 October 2018, Beter Bed Holding decided to restructure its international businesses. At the same event, a new mid-term strategy with the overarching customer promise to offer the best quality rest at affordable prices was presented. The Group Leadership Team of Beter Bed Holding is pleased to announce that the Q4 commitments have been successfully delivered.
This included, amongst others, the following:
- closure of 172 Matratzen Concord stores in Germany, Austria and Switzerland;
- headcount reduction of the Matratzen Concord support organization by 64 FTE;
- inventory reduction by more than € 8 million;
- successful discontinuation of the Spanish operation;
- execution of all plans within the communicated one-off restructuring costs and within the amended agreements with the banks.
While taking the above measures the company has been working hard to improve the business trends and to launch new initiatives. As a result, the first steps to change the sales trend at Matratzen Concord have been taken. Secondly, new customer driven assortment such as the Green Motion 100% recyclable mattress and the Wave one size fits all mattress were launched. Thirdly, new partnerships with the NOC*NSF and the Dutch female national soccer team through the wholesale business DBC with the M line brand were communicated.
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